WASHINGTON -- An official from a large nonprofit health maintenance organization testified yesterday that the HMO could lose its tax-exempt status -- and the ability to issue tax-exempt bonds -- if President Clinton's health-care reform bill is enacted.

Marc Wolfert, vice president of the 1.2-million member Health Insurance Plan of Greater New York, told the House Way s and Means Committee's select revenue measures subcommittee that the Clinton plan could force his organization to engage in taxable business activity that would jeopardize its 501(c)(3) tax status.

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